BLISTERING

3 years ago

Elizabeth Warren to Obama: Fire SEC Chief Mary Jo White

Sen. Elizabeth Warren has asked President Obama to remove the chairwoman of the Securities and Exchange Commission, Mary Jo White. Warren claims the Wall Street watchdog hasn’t done enough to regulate corporate entities, and she believes the SEC should already require corporations to disclose details about political spending. “Mary Jo White has refused to develop a political-spending disclosure rule despite her clear authority to do so, and despite unprecedented and overwhelming investor and public support for such a rule,” Warren wrote in a letter released early Friday, adding that White is “ignoring the SEC’s core mission of investor protection.” Warren noted: “Corporations are flooding our elections with millions of dollars in secret political contributions.” Obama does not actually have the power to fire White, but he can demote her membership and ask another member to take over the commission. “I do not make this request lightly,” Warren’s letter states. “It is clear that Chair White is set on her course. The only way to return the SEC to its intended purpose is to change its leadership.”